Data as of Q4 2025 (Dec 31, 2025)

Soleus Capital Management, L.P.

โ€ขCIK: 1802630โ€ขFiling: Q4 2025

**Soleus Capital Management, L.P.** manages $2.7B across a diversified portfolio of 95 positions. The fund maintains significant exposure to the technology and specialized sector, highlighted by its top holding in XBI at $353.6M. Further concentration is evident in KRYS ($232.0M) and CELC ($180.4M), suggesting a focused, high-conviction approach to growth assets. This structure indicates a tactical allocation strategy targeting outsized returns within select market segments.

Total AUM
$2.4B
+ $353.6M in options
QoQ Performance
+26.0%
Positions
94
+ 1 option
Top 10 Concentration
51.5%
Latest Filing
Q4 2025

Top Holdings Allocation

XBI
KRYS
CELC
XBI13.0%
KRYS8.6%
CELC6.7%
NVCR4.1%
PRAX3.9%
TGTX3.5%
DC43.2%
BMRN2.9%

๐Ÿ“ˆ Biggest Buys

XBIPUT
SPDR SERIES TRUST
+152.2%
13.0% of portfolio
DC4
DEXCOM INC
NEW
3.2% of portfolio
CELC
CELCUITY INC
+53.4%
6.7% of portfolio
GMED
GLOBUS MED INC
+404.0%
2.9% of portfolio
PODD
INSULET CORP
NEW
1.6% of portfolio

๐Ÿ“‰ Biggest Sells

TERN
TERNS PHARMACEUTICALS INC
-97.4%
0.3% of portfolio
PRAX
PRAXIS PRECISION MEDICINES I
-57.8%
3.9% of portfolio
CDTX
CIDARA THERAPEUTICS INC
-92.1%
0.3% of portfolio
INDV
INDIVIOR PLC
-93.2%
0.1% of portfolio
UTH
UNITED THERAPEUTICS CORP DEL
-60.0%
1.1% of portfolio

Sector Breakdown

Other100.0%

๐Ÿšช Exited Positionssold since Q3 2025

ELV
ELEVANCE HEALTH INC FORMERLY
SOLD
$83.9M
GRFS
GRIFOLS S A
SOLD
$24.9M
IART
INTEGRA LIFESCIENCES HLDGS C
SOLD
$20.6M
QURE
UNIQURE NV
SOLD
$11.7M
ADMA
ADMA BIOLOGICS INC
SOLD
$10.8M
+20 more exited positions

Changes from Q3 2025

NEW32 new positions
โ†‘23 increased
โ†“35 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023